Market sentiment analysis:
- Market sentiment has improved Tuesday after the recent losses for stocks and other assets seen as risky.
- However, it is too early to say that the panic is over and that demand for safe havens like gold will ease off.
Market sentiment improvement could be short-lived
Market sentiment has improved Tuesday after the recent sharp losses for risky assets such as stocks. However, traders need to be wary of a further selloff, sending more money into safe havens such as gold, US Treasuries and currencies such as the Swiss Franc and the Japanese Yen.
USDJPY Price Chart, Hourly Timeframe (August 1-6, 2019)
Chart by IG (You can click on it for a larger image)
In this webinar, I looked at the charts of the major currencies, commodities and stock markets, at the forward-looking data on the calendar this week and at the signals generated by the IG client positioning data.
Resources to help you trade the markets:
Whether you are a new or an experienced trader, at DailyFX we have many resources to help you:
- Analytical and educational webinars hosted several times per day,
- Trading guides to help you improve your trading performance,
- A guide specifically for those who are new to forex,
- And you can learn how to trade like an expert by reading our guide to the Traits of Successful Traders.
--- Written by Martin Essex, Analyst and Editor
Feel free to contact me via the comments section below, via email at martin.essex@ig.com or on Twitter @MartinSEssex
